According to Foresight News, Singular, a cross-chain lending protocol for non-fungible tokens (NFTs), has successfully completed a seed funding round, raising $3 million. The round was led by IOBC Capital, with participation from BCH Foundation, Bing Ventures, DG Capital, and Divide Labs.
Singular aims to provide a decentralized platform for NFT holders to access liquidity by using their NFTs as collateral for loans. This innovative approach allows users to unlock the value of their digital assets without having to sell them. The funds raised in this seed round will be used to further develop the platform and expand its user base.
As the NFT market continues to grow, platforms like Singular are becoming increasingly important for providing liquidity solutions to NFT holders. This successful funding round highlights the growing interest in and demand for NFT-based financial services.